Coterra Energy reported Q4 2025 net income of USD 368 million (USD 0.51 per share) on operating revenues of USD 2.0 billion, with cash flow from operating activities of USD 970 million and free cash flow (non-GAAP) of USD 507 million. FY 2025 net income was USD 1.7 billion (USD 2.25 per share) on operating revenues of USD 7.6 billion; operating cash flow was USD 4.0 billion and free cash flow (non-GAAP) was USD 2.0 billion, up 67% from 2024. Q4 2025 production averaged 813.1 MBoepd (oil 175.8 MBbl/d; natural gas 2,963.5 MMcf/d), while FY 2025 averaged 782.4 MBoepd (oil 159.9 MBbl/d; natural gas 2,974.7 MMcf/d). Coterra declared a quarterly dividend of USD 0.22 per share (payable March 25, 2026) and reported Q4 shareholder returns of USD 263 million, including USD 93 million of share repurchases (4 million shares) and USD 170 million of declared dividends; FY 2025 shareholder returns totaled USD 820 million. Key updates included progress on integrating the January 2025 Delaware Basin acquisitions, repayment of USD 100 million of term loans in Q4 (USD 300 million remaining, expected to be fully repaid in February 2026), and a pending all-stock merger with Devon Energy (0.70 Devon share per Coterra share) targeted to close in Q2 2026 with a synergy target of USD 1.0 billion per year run-rate by year-end 2027. For 2026 (standalone), Coterra guided to total production of 750 to 810 MBoepd, capital expenditures of USD 2.25 billion (USD 2.175 billion to USD 2.325 billion), and free cash flow (non-GAAP) of USD 2.35 billion.

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